Browsing All posts tagged under »iran central bank«

Iran’s banking system sinking in bad loans…

December 8, 2012

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Today, Iran’s banking system, day by day is sinking in bad loans, that seem to continue to pile up, as the time goes on. The “Ticarete Farda” newspaper recently reported that after Mahmoud Ahmadinejad became president in 2005, the amount of bad loans rose by $57 billion in the last 7,5 years. The newspaper compared […]

Iran implementing “economy of resistance” to fight off western sanctions

July 28, 2012

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It seems like Iranian officials have finally started to realize what damage is being done to the whole country with sanctions being imposed on the Islamic Republic. A few days ago a special meeting with representatives from Iranian parliament, presidential administration and the juridical system was held in the parliament, regarding the “economy of resistance” […]

Iran sets up an alternative for SWIFT for money transactions

May 29, 2012

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Since Iran’s Central Bank has been banned from using Worldwide Interbank Financial Telecommunication (SWIFT), the Islamic Republic announced they now have an alternative system implemented, according to Governor of the Central Bank of Iran (CBI) Mahmoud Bahmani. He said the new system has already been activated and that it tends to substitute SWIFT. Whether it […]